As the Rupee Plunges

Pakistan's currency has been slipping against the U.S. dollar at
an ever increasing rate. Just last month, it was devalued again
by almost 9%. The new official exchange rate is:


$1 U.S. = Rs 44.8/-


There are indeed advantages to doing so. Pakistani exports
automatically become more competitive in the international
markets, hopefully increasing the export volume and leading to
increase in foreign exchange.


There is however, a bleak picture associated with devaluation.
Imported goods become costly, the national debt increases in terms
of rupees, and the cost of living skyrockets - misery
for all citizens but especially for the poor.



The Government of Pakistan believes the advantages outweigh any
disadvantages. The masses it seems, think otherwise.



Is it too late to link the Pakistani Rupee to the U.S. dollar
as it used to be?